Super Trend Dot Metatrader 5 Forex Indicator

The Super Trend Dot Metatrader 5 forex indicator is an enhanced version of the renowned Supertrend custom indicator developed by Olivier Seban.

As a trend detector, the MT5 indicator replaces lines with dots that allows the display of previously hidden one-bar change of direction.

There are two key input parameters that are available on the Super Trend Dot forex indicator:

  • Period – defines the calculation period
  • Multiplier – defines the value for the ATR weight multiplier

The dots are colored red or green by default, as well being aligned above and below the candlesticks respectively.

Free Download

Download the “SuperTrend_Dot.ex5” MT5 indicator

Example Chart

The EUR/CAD M30 chart below displays the Super Trend Dot Metatrader 5 forex indicator in action.

Basic Trading Signals

Buy Signal: Go long when the green colored dots of the indicator get aligned below the candlesticks.

Sell Signal: Go short when the red colored dots of the indicator get aligned above the candlesticks.

Exit buy trade: Close all buy orders if while a bullish trend is ongoing, a red colored dot of the SuperTrend Dot MT5 forex indicator pops up on the activity chart.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a green colored dot of the SuperTrend Dot MT5 forex indicator pops up on the chart window.

Tips: Scalpers can effectively adopt the SuperTrend Dot Metatrader 5 custom forex indicator into their trading strategies.

Download

Download the “SuperTrend_Dot.ex5” Metatrader 5 indicator

MT5 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 5

Type: chart pattern indicator

Customization options: Variable (Period, Multiplier), Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: trend

Installation

Copy and paste the SuperTrend_Dot.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

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